Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in South Africa - 2024

Contents:

1. Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in South Africa (CIF) - 2024
2. Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in South Africa (FOB) - 2022
3. Imports of Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in South Africa
4. Exports of Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in South Africa

Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in South Africa (CIF) - 2024

In December 2023, the average import price for steel, alloy amounted to $1,083 per ton, approximately mirroring the previous month. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 when the average import price increased by 110% month-to-month. Over the period under review, average import prices attained the peak figure at $1,224 per ton in July 2023; however, from August 2023 to December 2023, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In December 2023, the highest price was recorded for prices from Sweden ($1,231 per ton) and Germany ($1,089 per ton), while the price for China ($864 per ton) and Spain ($1,063 per ton) were amongst the lowest.

From January 2023 to December 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in South Africa (FOB) - 2022

The average export price for steel, alloy stood at $1,417 per ton in 2022, which is down by -18.2% against the previous year. Over the period under review, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for steel, alloy increased by +54.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 89%. As a result, the export price reached the peak level of $1,733 per ton, and then dropped notably in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Zimbabwe ($2,474 per ton), while the average price for exports to Swaziland ($716 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Zambia (+11.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in South Africa

In 2022, after three years of growth, there was significant decline in overseas purchases of steel, alloy, when their volume decreased by -51.5% to 45K tons. Over the period under review, imports, however, saw a significant expansion. The pace of growth was the most pronounced in 2021 when imports increased by 259%. As a result, imports attained the peak of 94K tons, and then reduced notably in the following year.

In value terms, imports of steel, alloy reduced rapidly to $31M in 2022. In general, imports, however, saw a significant expansion. The pace of growth was the most pronounced in 2021 when imports increased by 261%. As a result, imports attained the peak of $45M, and then dropped sharply in the following year.

Top Suppliers of Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils to South Africa in 2022:

1. China (19.9K tons)
2. India (9.1K tons)
3. Taiwan (Chinese) (4.8K tons)
4. Japan (4.0K tons)
5. Germany (3.2K tons)
6. Spain (1.7K tons)
7. Sweden (1.4K tons)

Exports of Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in South Africa

In 2022, exports of steel, alloy from South Africa skyrocketed to 762 tons, picking up by 53% against 2021 figures. Overall, exports posted a pronounced increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of steel, alloy skyrocketed to $1.1M in 2022. In general, exports saw prominent growth. The pace of growth was the most pronounced in 2021 when exports increased by 166% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Top Export Markets for Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils from South Africa in 2022:

1. Namibia (336.7 tons)
2. Botswana (247.5 tons)
3. Malawi (175.4 tons)

Source: IndexBox Market Intelligence Platform